WM Partners halfway to Fund II’s $400 mln target

  • WM Partners Fund I raised $307 mln in 2017
  • WM Partners Fund II seeking $400 mln
  • WM Partners sold Nutranext for $700 mln in 2018

WM Partners clinched a nearly $200 million first close for its second fund, a source said.

The Fort Lauderdale, Florida, private equity firm is out marketing for Fund II, which has a $400 million target. The hard cap for the pool is $500 million, Buyouts reported in May.

The fundraising comes a year after WM Partners scored a major exit. The firm in April 2018 sold its entire portfolio holding when Clorox closed its $700 million buy of Nutranext. Included in the Nutranext deal were brands Rainbow Light, Champion Performance, Natural Vitality and NeoCell.

WM Partners invests in lower-middle-market health-and-wellness companies. Its first fund closed on more than $307 million in July 2017, Buyouts said.

Two entrepreneurs, Alejandro Weinstein and Jose Minski, founded WM Partners in 2015. The PE firm makes buyout investments in companies with revenue of $20 million to $60 million, taking controlling stakes. Categories include natural personal care, functional foods (superfoods), natural remedies and natural OTC.

Action Item: Contact Ernesto Carrizosa, executive managing director, at +1 754-260-6500